Tuesday, July 31, 2007

Tele-Jobs: Working Solutions

They have Agents On-Demand(TM), where individuals can work as information agents for various companies and the whole set up is created so you do this work at home. The primary work is "call center" work such as -- order processing, reservations, enrollments, etc.

You are asked to fill out an online application. Then you are given two tests for screening purposes. If your qualifications match their needs they will notify you. Understand that all agents working with this company are "independent contractors, " so you are not an actual employee of the company.

Translation: You need to set yourself up as your own "freelance" business. They will not offer you benefits, a retirement plan, refund of expenses, etc. They also can not promise you consistent work.

That's the thing about being and "independent contractor" it's up to you to schedule your work to provide yourself with consistent work and a consistent paycheck. Please be aware of this any time that you decide to take on a freelance or independent contractor position.

I advise you to carefully read their FAQ, especially the section entitled: "What equipment do I need to work as an Agent?"

Working Solutions has a lot of good information. Read everything, before applying.

You May Wish to Read About:

Please remember, dear job hunter, if your qualifications and experience do not fit the position, do us all a favor and refrain from applying. Employers do not want to be bombarded with resumes of people who can not do the job.

Monday, July 30, 2007

Blog Review: Found Money Jar

I found this very interesting blog called -- Found Money Jar -- that really proves my argument about how coins can help you achieve your goal toward riches. We citizens of the United States have money, literally laying at our feet and if we were just conscious enough to collect it, save it and invest it (no matter how small the amount) we would be financially richer than 90% of the world's population.

Yes, I really believe a penny can help. Some folks think I'm crazy when I pick up pennies and yell out that I'm closer to 1 million dollars . . . yeah, I get strange looks all the time.

But at Found Money Jar, each day that this guy tallies his "coin finds" and how he invests the funds that he collects and finds . . . you see how a simple thing like walking around, picking up coins and actually doing something with them (like investing it and making it grow) can make you a little bit richer.

I visit his website often, just to get inspiration . . . and know that I'm not the only doofus collecting coins on the streets shouting EUREKA! in the world. It's good to know you are not alone in your insanity.

Read his blog, it's very interesting.

Thursday, July 26, 2007

Tele-Jobs: Aetna

Aetna a large company providing health care and health insurance has an excellent site. Really, I love this site! And let me tell you why. It's the simplest one for finding work at home positions.

Here's the low-down:

1. Go to the career section of the website (Aetna Careers)

2. In KEYWORDS box you can type any of these key phrases: flexible location, (work at home), (work from home), telework arrangement, (home based).

3. Up pops a list of jobs . . . please read the descriptions carefully. Bad news: some of the jobs won't allow telecommuting until one year of service. Good news: some allow telecommuting immediately.

TIP: Don't be deceived by the ones that don't have your phrase attached to the title of the job. Click on the jobs in that list because often the job's description has full information on whether the job allows telecommuting now or later.

You May Wish to Read About:

Please remember, dear job hunter, if your qualifications and experience do not fit the position, do us all a favor and refrain from applying. Employers do not want to be bombarded with resumes of people who can not do the job.

Telecommuting Jobs, Work at home jobs, telework, hom

Sunday, July 22, 2007

Seven Reasons Why Giving Money Away is a Good Idea

Giving money away . . . are you crazy?

No, I'm not insane. If we truly studied the wealthy we would find that the rich give and they give often. In books on wealth, this topic is touched upon over and over. Biographies on the Rockefellers, the Carnegies, the Hearsts and other historically wealthy empires are full of their charitable giving and philanthropy. And I have personally noted, within my life, that those people around me that give seem a little freer, a little more balanced -- happier.

So, I decided to research this whole "giving" phenomena and came across 7 reasons why it benefits individuals to give.

1. The bottleneck theory (or the Universal Law). Have you ever tried to get ketchup out of a freshly opened bottle? If you turn the bottle upside-down and try to shake the ketchup out, it doesn't work. Nothing comes out. Now, if you put the bottle at a 45 degree angle and put a knife tip in the bottleneck and pull a little ketchup out, it creates a small pocket of air in the bottle that allows air to get in and push the rest of the ketchup out of the bottle. It seems that sacrificing a small bit of ketchup gives you what you want. Ketchup on your burger.

Life and money uses this same principle. One needs to make room of other opportunities, more abundance, more money by giving away something to make room for more.

2. The "relax and it comes to you" theory. (Zen) Have you ever noticed that the guys that were "cool," in school, the ones that didn't chase the girls, always had the girls?

Same thing goes with money . . . notice that you don't care about pennies, but I bet you have pennies all around you. In fact, you can't get away from pennies. Don't fool yourself, it isn't because pennies are so plentiful -- it's because you don't care about them. There was one time in my life (a pitiful time, but I must be true to myself and recognize it anyway), when I counted up pennies to buy a quart of milk. I was desperate for pennies. I cleaned the whole, entire house (moved furniture and everything) looking for pennies and found none. All I needed was twenty more pennies. I went so far as to take a walk to my neighborhood park, all the while looking on the ground for pennies. I found two. Suddenly, when pennies mattered there was a scarcity of pennies.

The same thing goes for money. When you hold on to it too tightly, when you make a big deal about it, when you are desperate for it . . . so much so that you refuse to sacrifice (give away) any of it -- it becomes a scarce commodity for you. If you want more money . . . you have to relax. Give some away, let the world know that you just "don't really care."

David Bach, author of Start Late, Finish Rich - says, "Giving of your time or money to help others is more than the golden rule . . . it's the golden magnet."

3. Forced saving theory. Giving away a portion of your money forces you take care of the rest your money efficiently. In fact, giving away a chunk of money, forces many people to actually save some of their money. I mean, if you are going to give away a certain amount, then you damn well should keep at least an equal amount (or more) for yourself, right? And saving is a fundamental key to wealth.

This same principal makes one care for the money they do use efficiently. Less money means one must watch every penny spent. Lots of frivilous spending would stop with this mind-set.

4. Sleep easy theory. (Karma) Have you noticed that those that have less-stress in their lives, achieve a lot more in a shorter amount of time? That's because stress is an energy sap. How do you deal with stress? By getting more rest.

Giving to the less fortunate because it is the right thing to do, can give one a wealth of psychological rest. In fact living by the "do onto others" theory or even the argument "wouldn't you want someone to do that for you?" is known to allow you a much more peaceful sleep, rest, relaxation . . .

5. Change the world theory. Your giving could make a difference in the world or your community. Could clean up a neighborhood. Could keep the homeless off your streets. Could create a play-ground for kids to play. This is simply using your money to invest in people, community -- instead of securities. And in making the world a better more supportive place, you could create an environment where your quality of life is generally better all the way around.

So, in fact, you don't need more money to create a more healthy environment for yourself . . . you automatically "live" in the better environment you created through your charity. And if you are not spending your money on alarm systems and insurance and city taxes, there is more in your pocket for things you want to do.

6. Spiritual theory. There are a lot of people that believe the law of tithing is in obedience to their spiritual walk. In fact, when we look at "wealth" as the abundance of not only financial resources, but the abundance of the physical, emotional, mental and spiritual realms . . . we can understand that giving is important to a piece of us that many people do not recognized -- our spiritual well-being. Many people world-wide believe that to give is an essential part of their spiritual health and growth. And if we are spiritually fulfilled and happy, all our other aspects in our lives click into place easily.

Popular Radio Host, Dave Ramsey often says, " God is a giver and tithing allows us to be more like Our Father."

7. Psychological balance theory. Many believe that charitable giving keeps us humble and reminds us that there are more valuable things in this world besides money but most importantly, it allows us to gauge our strength.

You see, people of strength are in the position to give and give freely. Clingy people are weak and insecure. If we cling to money, we are weakening ourselves psychologically and giving "money" our power. To be in a position of power, we must recognize that money is not our true strength, that money can not save of us, that money is just a tool to make our lives better -- more comfortable. What better way to make that statement to ourselves than to to give money away as a statement that we are the masters over our money.

As Master P (a famous rapper) said in a letter to 50 cent (an infamous rapper): ". . . Money don’t make me, I make money."

Now me, I'm greedy . . . I give to benefit from all 7 reasons . . .I give to make room to get more; I give to attract more; I give because it forces me to save; I give because it's simply the right things to do; I give in hopes that it will make the world a better place for my children; I give for my spiritual health; and I give because "money don't make me, " -- I have the power.

Friday, July 20, 2007

Are you slated for poverty?

I know about being poor . . . I know about poverty . . . I've lived it. It's been part of my family, it's attacked my friends, it attacked me on a daily basis and in some cases beat me down. I've had to fight and claw my way out of the poverty-mindset and I can say to you, there is a difference between being poor and living in poverty.

Simply explained, being poor means you are in a state of insufficient funds. You are broke. But this can be fixed easily . . . a second job, a on-the-side gig, a six-month educational program . . . these things and other endeavors can get you out of the "land of broke."

Being "in poverty" while living in the United States is a mind-set of an individual that just says "I give up."
  • Not trying anything to better your life because it's too hard
  • Feeling as if anything you do , you'll fail anyway so why try
  • Don't want the problems that happen with money (more money, more problems)
  • Don't want to be responsible for having more (security, keeping track, doing additional stuff)
  • Afraid of success or failure
  • Don't want money because you will lose all your friends (respect of friends)
  • Afraid of ridicule or (not being able to fit in) with your friends
  • Focusing on "one thing" to get you out of your situation
  • Looking for someone else to get you out of your situation
  • Unwilling to LOOK for ways (learn about) ways to get out of your situation
I have witnessed poverty first-hand, within my immediate family and I can tell you that if you think in any of the above ways, you are slated for poverty.

Changes in your mind-set that can get you out of the poverty:

1. Stop looking at the "scarcity" of money, opportunity and possibility. Instead try to focus on abundance, possibility and opportunity. Begin to say to those obstacles "there has got to be a way around this." And take the time to really try to find a way. Don't worry when you find lots of ways that stops you or lots of ways that don't work. You only need one way to get through it, so focus on that finding that one way.

2. Poverty-minded people won't take the first steps to begin because they don't see the full outcome. Don't worry about the finish line, if the first steps clear themselves go for it! If you come upon some obstacles down the line refer to step 1 above. Think about it, if you are at rock bottom with no where to go, even taking 3 or 4 steps higher puts you in a better position then you were before.

3. Stop looking at what you lack and be grateful for what you have, right now. You may just find a opportunity using the thing that you do have. Have you heard about the guy that started with a red paperclip and traded his way up to a HOUSE? Or the guy that made a million dollars with ONE web page?

4. Don't concentrate on one thing . . . or better yet, don't stop at one success.
Understand that a good job is great, it's excellent . . . but it should just be a spring board, a foundation for other endeavors, opportunities, chances. I think everyone would agree that:
  • A business with one client, soon dies if that client decides to go elsewhere.
  • A freelance artist with one contract, soon becomes a starving artist when that contract is finished.
  • A store or restaurant with one customer soon closes it's door.
So why don't we see "as employees" that working for one employer is not true financial stability?

As people who are looking for financial freedom we should be creating income outside of our primary jobs. We should be looking for ways to make our money grow, or better yet, produce income. Why is it so damned hard to think . . . (no scratch that) live this way?

As the average-everyday job employee, I mentally understand these concepts but find it so very hard to live it. Why? Anyone have any answers?

Photo by Erin Mason (found on Flickr)

Wednesday, July 18, 2007

Tele-jobs: Cypher Coding

Cypher Coding is a Chicago-based litigation coding company. They've been in business since 2000. Cypher specializes in document coding, logical document determination and related litigation support services. Our clients are law firms, corporations, government agencies and litigation support vendors. We are the largest domestic only litigation coding company in the industry.

Click on their Employment Page learn about Remote Document Coders. This is a full process with carefully stated qualifications. Basically, they only hire "independent contractors" which means you must have your own home office site up. This company requires legal document experience - those with a few years as legal clerks and legal secretaries will do well here.

Please read the Profile and the FAQ page carefully to make sure you fit their requirements. If you do, submit an online application. After they access the online application and deem you qualified they will send your a Qualification Exam through an e-mailed link. If you pass the exam (it takes a few days to tally your score), then they send you an Independent Contractor's Agreement. After you send back the Contractor's Agreement, you are directed to a final test evaluation. Pass the final test evaluation and you are set to take on as much work as they can throw at you.

Tuesday, July 17, 2007

Good places to stash micro-savings

Okay, so you know I've open two savings accounts with basically no money in them at this point. I researched a lot of places before I made my final decisions. (No, I'm not going to tell you what my final decision is for privacy sake and because I haven't used them long enough to give you a good recommendation).

But this is the information I gathered in case you too wish to open a micro-savings account yourself.

The places that have good savings accounts that allow you to open an account with less than $50 bucks . . .

UFB Direct -- 5.31%
iGoBanking -- 5.3%
HSBC Direct -- 5.05%
Emigrant -- 5.05%
E-Trade -- 5.05%
ING Direct 4.50%

Assess them for yourselves:

1. Make sure the rate they give you is not an introductory rate. A bank called FNBO is giving an introductory rate of 6% only until September 28th.

2. Make sure there is not a requirement to put a larger sum in later (in 3 months, or 6 months or 1 year). The bank WT Direct gives a 5.25% interest rate for the first 60 days the account is open and .60 after that unless you deposit $10,000 or more.

3. Find out how often the interest is compounded (daily, monthly, quarterly or yearly) -- it matters, believe me. Don't believe me? Click here.

4. Find out how often the interest is actually put into your account (daily, monthly, quarterly, yearly) -- this really matters.

*Be careful of brokerage/trade accounts because they give a better yield but they are not FDIC insured.

Articles on this topic that I found utterly helpful:

Which High Yield Account is Best
from "Get Rich Slowly"

Accounts for Canadians

I used these websites to help me find this information:
Bankaholic (
Bankrate (

Savings, wealth, small cash, keeping your money, savings accounts,

Monday, July 16, 2007

Review: Millionaire Blueprint Magazine

Millionaire Blueprint Magazine

I don't know why I picked up this magazine . . . it was just so big, and red and it had $1,000,000 ripping across the cover. The bench at Barnes and Noble hit the back of my knees, inviting me to just sit down and look at it. One hour later, I had to buy the magazine because there were yellow highlighter mark in two of the articles. (Seriously, the highlighter just leaped out of my purse and started marking things -- it was freaky.)

From that day forward, I hunt through the magazine stand look for new editions. If you buy no other magazine, buy this one. It's worth your money and your time.

This magazine interviews millionaires and give the reader step-by-step details (and instructions) on how they "made" it. The interesting part about the magazine is they feature millionaires that are truly the "neighbor next door" -- they are so gosh darned . . . ordinary! Ordinary people, just like you, who have just simply found something they like doing, they do it well and they gain success from it. Almost makes you think that one day soon you could be featured on the cover.

Go ahead, take a look at it. Have your highlighter in hand because this is a study guide and not a quick read at all. It's one of the few magazines that I do not throw away because they are reference manuals, not clutter.

magazine review; $1,000,000, wealth, money, opening a business, owning a business,

Sunday, July 15, 2007

Telecommuters want the iPhone!

Around 15 per cent of mobile workers in the US want to be equipped with Apple's iPhone, new research claimed today.

Market research firm RDA Global said that there are 50 million workers in the US who either travel, work away from their office or telecommute, offering a potential market for at least 7.2 million iPhones.

Mobile workers already using Apple computers and iPods are most likely to be interested in an iPhone, according to the research, which was based on a poll of 1,027 people in the US.

"The survey indicates that the iPhone price of $500 to $600 is unlikely to deter the relatively better-off, young, well-educated and professional consumers, who tend to be Apple fans."

The research suggests that these younger consumers are willing to pay a 50 per cent premium or more for iPhone features.

There is also good news in the report for AT&T which will be providing the exclusive service contracts for the iPhone.

The survey found that iPhone purchasers spend almost twice the amount of time on their mobile device than is the case with those not interested in the iPhone.

"We expect the iPhone to have a substantial impact on how mobile workers communicate," said Seals.

Okay, duh . . .of course telecommuters want iPhones, they are like a computers in your pocket. I mean it's not just a phone . . . it's a camera . . . wait, it's a PDA . . . wait, it's a iPod on steroids . . . oh, wait it can make dinner.

I'm personally surprised the survey said only 15% of telecommuters want one of these. Well, I speak for the "way-cool" telecommuters everywhere in these here United States when I say: "Hell yeah, I want an iPhone. It is way kwuualll, man!"

Now, if only I can make enough money to support my high-tech fetish.

Technorati Profile

Friday, July 13, 2007

AMT - Satan's Tax Rule

Originally uploaded by Vermin Inc
Come children, sit by my knee while I tell you a story --

All the way back in 1969, the supposed "wise-men" of our nation realized that "the rich" were getting away with not paying their fair share of taxes. So, they created a rule. This rule stated that people with a certain amount of income would be under a "different" law of taxes. And it was called . . . the AMT (Alternative Minimum Tax).

The AMT is a whole different set of rules on tax rates and deductions. The rich only paid their taxes using this new rule if the taxes from the AMT formula was more than the standard "every day" formula the rest of the masses used. Bottom line: if you paid using AMT, you paid more taxes (period).

In 1970, 19,000 of our highest-paid citizens in these United States, owed taxes using the AMT formula.

Now, fast-forward 2006 . . . 3.6 million citizens (of the 131 million taxpayers) will have to pay their taxes using the AMT formula.

Oh what? That didn't scare you? Okay, what about this. By the year 2010 (3 years from now) 31 million taxpayers will be paying higher taxes using the AMT formula. Yeah, that's right nearly 1 in every 4 taxpayers will be paying HIGHER taxes! That means that there is a 25% chance you will be paying the government 26% of each dollar you earn in 3 years.

And why is this happening? Because the "wise men" in 1969 forgot to tell the proceeding generations (I guess they just assumed that the other guys would have good sense about it -- cause really, it's so obvious) to adjust the AMT formula for inflation!

And here's the thing, the households that are most vulnerable to "the wealth tax formula" are today's middle class households: Married filing jointly, more than 3 children, interest deduction from a second mortgage, capital gains, high state or local taxes, incentive stock options . . . all of these are red flags for the IRS to demand that you try the AMT formula instead of the "standard formula" for your taxes.

And get this . . . it all begins when your household income exceeds $75,000. It gets worse, the exemptions and deductions that you usually take, gets phased out when the household income reaches $150,000. The exemptions and deductions are completely wiped out by the time a couple makes $382,000 a year.

Okay, I'm not really worried about the people that make over $382,000 a year (even if it's me -- cause really, you can survive on that type of income even if a quarter of your money is taken by the government.)

But starting with the people making $75,000 a year? That's just wrong.

Hey, don't believe me? Check out:

AMT Minimum Tax 101

Top 10 Things that Cause AMT Liability

The New Tax Trap

Beware: You're in the AMT Now

tax rules; AMT; Alternative Minimum Tax; middle class; Personal Finance; finances; money; 
2014 UPDATE:  On January 2, 2013 President Obama signed the American Taxpayer's Relief Act of 2012.  Which permanently adjusts the AMT to keep up with inflation, so now it's annually indexed to keep pace with inflation.  This helps a lot.  But it still doesn't get people out of the crazy situation of paying AMT.  If you are worried about AMT the IRS now has a helpful little AMT Assistant Tax Tool you can plug in your information to see if you may owe AMT instead of regular tax.  I'm just glad someone figured out that ATRA needed to be in acted before the AMT got us all!


Wednesday, July 11, 2007

Website Review: Double to a Million

Okay, I know this is a very silly concept but I simply love these types of experiments. As you know, I was a follower of the "Red Paper Clip" and the "Million Dollar Homepage" experiments and I've been watching this "Double to a Million" guy for a couple of months now. I'm really intrigued by guys who latch onto a theory, really work their asses off to use and create a reality-base with said theory, and find some type of success in doing it. The only thing that depresses me is that I can't find any women with the cahones to do like-minded projects.

Anyway, the concept goes like this . . . there is an article entitled: How to Double Your Way to a Million in 28 Steps that's been floating around for years. So this guy decides to take the challenge and follow the article's instructions to see if he can actually achieve $1 million dollars in 28 steps. It's a really fun read and I recommend it.

Double to a Million Plan Timeline

Million dollars; millionaire; experiment; money; wealth

Monday, July 9, 2007

Jan Guill's Good Advice

From May 2005 Writer's Digest (pg. 16)

"Be suspicious of literary advice from anyone who consistently leaves you feeling like some subspecies of dung maggot."

Jane Guill author of, Nectar from a Stone (Simon & Schuester 2005)

Dog-gone it Jane, where were you in 1992 when I submitted by work in a creative writing class at state college (a work that won a $1,000 award from a private college I previously attended -- long story, I'm sure you don't want to hear it) and this guy with a British accent (a classmate, not the instructor) told me in no simple terms that my work did not pass muster.

I told him that I was not looking to win literary accolades along the lines of Toni Morrison or anything, my aspirations were leaning more toward the Jackie Collins, pop-culture, bestselling school.

And then he said -- and I will never forget this -- "You must actually have the ability to write to even aspire to that."

Boom. That was it. I didn't write one more thing for about five years after that day.

Never mind that I had won several writing awards that helped put me through school. That I had just finished a semester writing for the school newspaper. That I had actually been published (no money involved) but, a "real" literary magazine put my work in print. Never mind that every paper that I had ever written since 7th grade received A's.

Never mind all of that . . .

The guy was 10 years older than me, he aspired to the "literary" genre, he had a British accent -- and we all know that people with British accents just sound like they know what they are talking about.

With one statement from his cultured voice, my writing career was halted for five years, until I got up the nerve to write and submit and again . . . was published.

So, all you writers, go back up to the above advice. Stamp it onto your heart, plant it into your mind and live by it . . . and please, don't be stupid -- like me.

Writing advice; writer; author; literary

Saturday, July 7, 2007

Your job: a gold mine of ideas

Question sent to me by LiquidHeaven:

I work in a call center, and all day long I get to listen to people yell, cry and moan over their financial situation. I just got this job, I thought it would be a good job, but the stress of listening to people yell at me all day is too much. Does anyone have advice on alternative careers, preferably in an art type industry? I'm just so frustrated. The money I'm making is nice, but at the end of the day I feel like it's not worth it. Any suggestions?

My answer:

You know what? I'm the type of person that can make crazy money from situations like this. Do you realize what a gold mine you are sitting on with that job?

I can understand that you may not be comfortable writing -- and that I am very comfortable with this medium -- but have you thought about writing a book or a couple of articles using generalized (no specific/individual information -- make sure to protect customer's privacy) accounts?

You know what I would do? I would write down all the really crazy phone calls and sell it as a "believe it or not" kind of book, for instance:

"The top 100 excuses that your creditors just don't want to hear."


"The 25 most outrageous bad credit excuses!"

Then, to make the piece informative as well as humorous, add information on what to do when you have bad credit and how to deal with crappy credit.

Even better, I would create a contest for the other service reps at the job, asking them for the craziest excuse ever heard. The top three winners would get a prize and a mention in the "piece" (article, book, website, etc.)

Expand on that idea and create your own website or blog on the subject matter -- material comes in via your phone daily, so you won't have a problem blogging about it. Your website could become an excellent educational/satire tool. Create a following of devoted readers at the website, and you could sell advertisements or have affiliate links to credit counseling services (making money off the commissions.) Your website could sell your "crappy credit" book. You could provide consulting services. You could offer to write articles for financial magazines. The economic possibilities are as limitless as your imagination.

Your crappy job could just make you an expert on "crappy credit" and in turn give you additional income . . . which ain't crappy at all.

additional income, quick money ideas, home business ideas, writing advice, career, job, extra money, book idea

Friday, July 6, 2007

Review: The Wealth Report

<--Robert Frank

I can sit for hours (and have) reading The Wealth Report and it's detailed observations of the uber rich -- those with assets over $25 million. I mean, if I aspire to be like these people I should study them right?

This blog is written by Robert Frank, an author who coined the terms "Richistanis" and "Richistan" because, "their lives are so different from those of the rest of us that it's as if they live in another country."

Please, make sure to read the comments on his posts and articles -- they are hilarious, enthralling and entertaining. My favorite article on this blog site: "Googling Dad's Assets." If you read nothing else, read that one.

Things I've learned from The Wealth Report:

1. People are very suspicious and question even the kindest charity attempts by the uber-rich.

2. It is not the uber-wealthy you should look out for, it's the millionaires aspiring to be uber-rich (the wannabe uber) . . . they really don't like mixing with the commoners.

3. Everybody has an opinion of how better to spend uber-rich people's money.

4. I now know the difference between a personal chef and a private chef.

5. The rich have "a lot" of investment opportunities that the rest of us don't have, and that is why (and how) they are uber-rich. Did you know that you have to have $2.5 million in assets (excluding equity in the house or business) to be eligible to invest in hedge funds?

6. There is industry called Donor Consulting, which involves advisers that help the rich give away money. As quoted in the article, they "ensure your dollars go where they are supposed to go." Oh, did I mention that the rich pay up to $30,000 for this advice?

7. Dreamliners (747s) are flying RV's for the rich (especially rich Middle Eastern people).

8. Kids of rich people can -- and often do -- Google their parents to find our their net worth.

9. When you are rich and a woman, wearing the same gown as someone else at the same event is really bad . . . but what is societal suicide is being photographed at two different events wearing the same outfit!

There's more, it's great reading.

millionaires; billionaires; the rich; $1,000,000; uber; luxury class; the wealthy; net worth;

Tuesday, July 3, 2007

Rich people's fear and worry

Forbes had a wonderful article on problems and fears that rich people often face. They are in this order:

1. Being sued or losing money through divorce
2. Finding sophisticated tax strategies
3. Identity theft
4. Making sure heirs are taken care of
5. Gifts to charity
6. Financial advisers scamming them
7. Acts of violence toward them or family (kidnapping, extortion, etc.)
8. Balancing family and business
9. Managing their wealth
10. Teaching the heirs about money and wealth
11. Losing income/maintaining their lifestyle
12. Improving status/getting ahead

There you have it. As Biggie-Smalls liked to say, "More money, more problems."

As "I" like to say . . . I've lived and mastered all the "poor people" problems, I'm about ready to experience some new ones now. Those uber-rich problems look interesting, I think I'll try them on for size. Thanks.

Sunday, July 1, 2007

What is rich?

The Federal Reserve Survey of Consumer Finance says that 8% of U.S. households in 2004 were worth $1 million or more. Therefore, they must re-calculate the definition of "rich." Apparently, they have to do this because there are some investment opportunities that only "the rich" are allowed to participate in. It's mportant that everyone knows just "who" is considered rich.

So, after much calculation, the Federal Reserve has decided that The Rich are defined as households with $6,000,000 in net worth or/and $310,000 in annual income.

See? Even if I reach my goal ($2,000,000 in assets excluding the house) I will fall far short of what the Federal Reserve would call "rich." In the Federal Reserve's eyes, I'll still be considered and working-class stiff.

Sigh. I guess I'll always be doomed with the "outside looking in syndrome."